Genesee & Wyoming To Buy Freightliner Group

(RTTNews) - Genesee & Wyoming Inc. (GWR) said Tuesday that it has agreed to buy about 95% of the shares of Freightliner Group Ltd. from Arcapita and other shareholders for cash consideration of about £490 million and to assume about £8.5 million in net debt and capitalized leases.

Members of the existing Freightliner management team will retain an about 5% ownership stake with Genesee & Wyoming to own 100% by mid-2020.

The acquisition is expected to close during the first quarter of 2015.

Headquartered in London, England, Freightliner is an international freight rail operator with operations in the United Kingdom, Poland, Germany, the Netherlands and Australia.

During its first year of ownership, Genesee & Wyoming expects Freightliner to generate about £510 million in revenues.